shall we invest now to j&k bank?

I think the question is whether you have the temperament to be a contrarian. There is no clarity in the state of affairs of the bank. There may be several more NPAs to account for owing to the flood crises in J&K. Things may get worse. Or they may get better. Nobody can tell.

Also, the confidence of the investors is broken. It may take a long time for that to come back.

If you have the patience and the temperament to live through that sort of uncertainty, then it is worth putting your hat in the ring. Otherwise, there is no dearth of mid-cap stocks in the banking space.